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The Glazers put the Premier League giants up for sale in November of last year. The takeover talks have since dragged on for nine months. Ineos founder Jim Ratcliffe and Qatari Sheikh Jassim went head-to-head for the takeover. There were some reports about the club's American owners preferred Ratcliffe's offer as it meant they would have retained their shares. The report claims that Sheikh Jassim is set to complete his full £6 billion takeover of Man United by mid-October. The official announcement could come as early as next month.
Glazers will make a massive profit having completed their £800 million takeover back in 2005. The servicing of that debt has since cost United over £1 billion. Their last financial figures showed that the gross debt is £725 million. Sheikh Jassim will wipe out that debt to save on any further fees and not take any dividend payments from the club. The Qatari's takeover plan includes upgrading the stadium and the team's training facilities not to mention investing in the squad.
Sheikh Jassim's team are now completing their due diligence on the Old Trafford outfit before they take the club off The Glazers' hands. The takeover update will delight Man United fans who are protesting against the current ownership. The Glazers wanted to continue holding shares. But they were warned by senior Man United figures that there would be fierce fan backlash, according to the report.